Fibonacci Master

    The Fibonacci retracement, drawn for you and kept honest. Fibonacci Master finds the swing that matters, draws the levels from it, lights up the 0.5 to 0.618 zone and projects the 1.272 and 1.618 targets. Then it measures where pullbacks actually end on your chart, instead of assuming.

    Fibonacci Master: the swing, the lit 0.5 to 0.618 zone, the targets above and the panel.
    Fibonacci Master: the swing, the lit 0.5 to 0.618 zone, the targets above and the panel.

    Getting started

    1. 1
      Open TradingView and click Indicators
      Search for "Fibonacci Master SimpleAlgo" in the Community scripts tab.
    2. 2
      Add Fibonacci Master to your chart
    3. 3
      Keep the defaults
      A swing has to be at least 4 ATRs tall before levels appear. Targets, the pullback band, tags and the panel are all on.
    4. 4
      Add alerts if you want them
      Set them to "Once per bar close".

    What you see on the chart

    Fibonacci Master on a Solana 15 minute chart with the zone, targets and panel
    • Two dots mark the start and end of the current swing, joined by a dashed swing line.
    • Levels run from 0 at the swing start to 1 at the swing end, with 0.236, 0.382, 0.5, 0.618 and 0.786 in between.
    • The 0.5 to 0.618 zone is lit. That's where pullbacks are classically supposed to end.
    • The 1.272 and 1.618 targets sit beyond the swing in a shaded box.
    • A dotted band, labelled with where pullbacks end here, shows where pullbacks have actually ended on this chart.
    • HELD and FAILED tags mark each judged test of the zone, and a faint box stays where each judged zone sat.

    How it works

    The swing

    A move counts as a swing once it's at least the Swing size setting tall, measured in ATRs (4 by default). When a pullback that deep is followed by a new high (or a new low in a down swing), a fresh swing starts from the pullback; smaller dips just extend the swing. A close past 0.786 means the pullback has become the swing, so it flips the other way. Until a swing is tall enough, the panel shows the swing forming and how many ATRs it has so far.

    Tests of the zone

    Every pullback into the 0.5 to 0.618 zone is a test, judged on closes, not wicks. A close back past 0.382 means it HELD. A close past 0.786 means it FAILED. Each test is tagged, boxed and counted, and the panel shows how many of the last ten held.

    Locking and targets

    A hold locks the swing, so the levels and targets stay put while price works toward them. Whether 1.272 was reached after each hold is counted too. The lock is released when price reaches 1.618, loses the pullback low, or pulls back again and makes a new extreme, and the swing then restarts from the low that held.

    Where pullbacks end here

    Every pullback is recorded as a fraction of its swing. The band runs from the 25th to the 75th percentile of the last twenty, so it covers the middle half of where they ended. Pullbacks that broke the swing are counted separately and kept out of the band. It describes the chart you're looking at; it doesn't predict the next pullback.

    The panel

    RowWhat it shows
    SwingDirection, size in percent and how many bars it took, or how far a new swing has formed.
    PullbackHow deep the current pullback is as a fraction of the swing, from shallow to past the zone.
    ZoneHow many of the last ten tests held.
    Pullbacks hereThe band where pullbacks end on this chart, and how many of the last twenty broke the swing.
    TargetsThe 1.272 and 1.618 prices.
    ReadOne line, such as In the zone, needs a close above 104.68 to hold, or Zone held, next target 1.272.

    Alerts

    • In the zone: price pulled into the 0.5 to 0.618 zone
    • Zone held: the pullback to the zone held
    • Zone failed: the pullback to the zone failed
    • 1.272 hit: price reached the 1.272 target
    • 1.618 hit: price reached the 1.618 target
    • New swing: the swing flipped

    Set them to Once per bar close. A test on a live bar can still change before the close.

    Settings

    SettingWhat it does
    Swing size (ATR)The smallest move that counts as a swing, 4 ATRs by default. Raise it for bigger swings, lower it for smaller ones.
    ThemeNeon, Classic, Aurora, Ice or Custom, with your own up and down swing colours.
    BrightnessHow strongly the zone and boxes are filled, 1 to 5.
    Targets (1.272, 1.618)Show or hide the targets beyond the swing.
    Where pullbacks end hereShow or hide the dotted band.
    Swing line and past zonesShow or hide the dashed swing line and the faint boxes of judged zones.
    HELD / FAILED tags and level labelsShow or hide the tags and the level numbers.
    Extend right (bars)How far the levels reach past the last bar, 25 by default.
    PanelShow or hide it, choose a corner and a size.

    How to read it

    1. 1
      Start with the swing
      No swing, no levels. The panel tells you how close a new one is.
    2. 2
      Watch the pullback
      The Pullback row tells you how deep it is and whether it's reached the zone.
    3. 3
      Compare the zone with the band
      The zone is the classic answer. The band is what this chart has actually done. Read both.
    4. 4
      Let the close decide
      A test isn't held or failed until a bar closes past 0.382 or 0.786.

    Common questions

    Is Fibonacci Master free?

    Yes. It's free and open source on TradingView, no membership needed.

    Do I have to draw the swing myself?

    No. It finds the swing automatically, sized in ATRs, and redraws the levels when a new swing starts.

    Does it repaint?

    While a bar is open, the pullback depth and a fresh test can change until the close. Tests are judged on closes, and once a bar closes nothing about it changes. A new swing can replace the levels, which is how any automatic Fibonacci works.

    Is HELD a buy signal?

    No. It marks a pullback that closed back past 0.382 after testing the zone. Combine it with your own analysis, and manage your risk.

    Was this page helpful?